The announcement was made after market hours yesterday, 20 April 2016.

Meanwhile, the BSE Sensex was up 211.42 points, or 0.82%, to 26,055.60.

On BSE, so far 1,684 shares were traded in the counter, compared with an average volume of 2,181 shares in the past one quarter. The stock hit a high of Rs 6,580 and a low of Rs 6,360 so far during the day. The stock hit a record high of Rs 8,317.25 on 7 January 2016. The stock hit a 52-week low of Rs 3,400 on 8 June 2015. The stock had underperformed the market over the past one month till 20 April 2016, sliding 7.58% compared with 3.57% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 8.42% as against Sensex's 7.41% rise.

The small-cap company has an equity capital of Rs 1.74 crore. Face value per share is Rs 5.

Price Thomas Holdings (PTHL) was incorporated on 14 May 1998. PTHL along with its subsidiary is a manufacturer and supplier of lubricants & car care products in the UK and few overseas automative markets. It is a small sized company and has operations primarily in UK. Apart from UK, PTHL exports its products to Ireland, Sweden and Bulgaria. PTHL registered profit before tax (PBT) of GBP 0.87 million on gross revenue of GBP 10.92 million for the year ended 31 December 2014. No governmental or regulatory approvals are required for the acquisition as it falls within automatic approval route of Reserve Bank of India (RBI) policy. The share purchase agreement has been signed on 19 April 2016. The post acquisition formaliities are expected to conclude shortly. The proposed acquisition is envisaged to result in competitive product pricing of Tide Water Oil in the European market.

Tide Water Oil (India)'s net profit jumped 86.5% to Rs 26.33 crore on 4.8% growth in net sales to Rs 245.75 crore in Q3 December 2015 over Q3 December 2014.

Tide Water Oil is one of the leading players in the Indian lubricant industry. It manufactures and markets Veedol brand of lubricants.